Update: Targets reached without triggering entry... Trade cancelled.
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A very simple trade, I am going to long the pair if i see another dip lower, with a tight stop just below the support of the sideways range. (In this specific trade i will not cancel the trade if we reach first target before triggering entry, as its very close to current price, i will only cancel the trade if price reaches near the second target without triggering entry).
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
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A very simple trade, I am going to long the pair if i see another dip lower, with a tight stop just below the support of the sideways range. (In this specific trade i will not cancel the trade if we reach first target before triggering entry, as its very close to current price, i will only cancel the trade if price reaches near the second target without triggering entry).
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
